Corpus Sireo adds new resi business

German asset manager Corpus Sireo is to transfer 16,000 homes it already manages to a new Asset Management Residential business.

Stefan Korthals, previously head of portfolio management for the group’s residential real estate portfolio, will lead the business, with offices in Cologne, Berlin and Leipzig.

It will provide portfolio and asset management services; and  sales and acquisition services. Corpus Sireo advises two banks on the structure of their distressed portfolios and runs €1.2bn of property for proprietary and client accounts, including Apollo Global Management.